Bitcoin price prediction: $7,000 is a reality, time to calm down - Bitcoin confluence
|- BTC/USD settled above $7,000.
- Some rangebound trading ahead before the growth is resumed.
Bitcoin (BTC) has recovered from the intraday low of $6,866 towards $7,050 by the time of writing. The price has calmed down after a volatile weekend. While the technical correction looks likely, the coin is still moving within the strong upside trend.
Bitcoin confluence levels
There are a lot of strong technical barriers clustered both above and below the current price, which means, Bitcoin may stay in a range for sometime before the growth is resumed.
Resistance levels
- $7,150 - the highest level of the previous 4 hours, the previous 1-hour high, SMA10 4-hour and SMA5 15-min.
- $7,300 - 61.8% Fibo retracement daily;
- $7,500-$7,550 - Pivot Point 1-month Resistance 3, Pivot point 1-week Resistance 3.
Support levels
- $7,000 - Pivot Point 1-week Resistance 2.
- $6,750 - the middle line of 4-hour Bollinger Band, the lowest level of the previous day.
- $6,550 - Pivot Point 1-month Resistance 2.
BTC/USD, 1-day
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